Apparel

Birmingham, Ala. -- Bayer Properties has begun construction on the $66 million redevelopment of the historic Pizitz Building, located on the corner of 2nd Avenue North and 19th Street in downtown Birmingham, Alabama.

The building’s top six floors will be dedicated to residential space with 143 multi-family apartments. The Pizitz Building will also have a mezzanine level with modern, temporary office space, a ground level featuring a public urban market, and an attached seven-level parking garage.

Troubled retailer Abercrombie & Fitch continued to be out of favor with its teen target market in the fourth quarter, with declines in both income and sales. 

Looking ahead, the company said its priorities include increasing comparable sales trends in both its U.S. and international stores, making strategic investments in its omnichannel business, ongoing expense reductions, and selective expansion in high-growth international markets.

New York – A Dutch court has reportedly set aside a $449.5 million arbitration payment Tiffany & Co. had been ordered to make to Swiss watchmaker Swatch Group AG in December 2013. According to the New York Times, a three-member panel of judges ruled in favor of a counterclaim Tiffany filed in March 2014.

New York – At least two major suitors are vying for the hand of Ann Taylor parent company Ann Inc. According to Reuters, private equity firms Bain Capital and Golden Gate are both negotiating to purchase Ann Inc.

Ann Inc. has a $1.6 billion market capitalization. There is no guarantee either company will receive the financing they would need to make a purchase, and other potential buyers may emerge this week.
 

Waban, Mass. – Publix, Aldi and H-E-B share something besides all operating in the grocery sector. Based on a study of 10,000 U.S consumers, the three supermarket chains earned the highest scores in the 2015 Temkin Experience Ratings that ranks 293 companies across 20 industries.

Joining those firms in the top 12 spots are retailers Chick-fil-A, PetSmart, Amazon.com, Trader Joe's, Papa John's, Walgreens, and Hannaford's.

Houston – A dropping cost of sales helped Stage Stores Inc. boost net income 76% to $43.72 million in the fourth quarter of fiscal 2014, up from $18.26 million the same quarter a year earlier. Net sales climbed 6% to $524.89 million from $492.54 million, and same-store sales rose 6.4%.

Stage Stores plans to close 10-20 stores and open two new stores during fiscal 2015.

Justice continues to be a drain on the Ascena Retail Group, as the company reported a drop in same store sales for the second quarter.

The operator of Justice, as well as stores under the Lane Bryant, Cacique, Maurices, Dressbarn, and Catherines brands, said combined same store sales declined 2% during its second quarter of fiscal 2015 ended Jan. 25 due to sluggish sales at Justice.

Seattle – Shoes.com is not just standing still, tapping its toes. The Shoes.com website has been formally re-launched with a refreshed design and expanded product offering, now with more than 450 brands.

As part of the new design, Shoes.com makes it easier for customers to find what they’re looking for with better navigation, product categorization and refined search. Choosing a product is also easier with more customer reviews and improved product images, including videos.